Luminar’s collapse to result in £50 million of losses

Share via

The collapse of Luminar is expected to crystallise losses of up to £50 million for its lenders amid indications that the remaining bidders for the nightclub operator are reluctant to pay much more than £30 million to £35 million.

The Times understands that the auction of the group, which has a net debt burden of about £80 million, has been whittled down to two shortlisted parties, both financial players working with separate management teams, although neither is thought to want the entire portfolio of about 64 clubs.

Hugh Osmond’s Sun Capital Partners, which had been tipped as one of the